The Momentum Setup is a multi-indicator visual tool designed for trend and momentum analysis directly on the price chart. It combines Relative Strength Index (RSI), Money Flow Index (MFI), Commodity Channel Index (CCI), Supertrend, and a 250-bar percentage cha
Indicator · Pine Script v4 · On the chart
Sell Signal
This indicator plots sell signals directly on the price chart using shape plots and text labels.
GitHub stars2on the repository
Pine versionv4older, still runs
Lines of code45
Settings2inputs
LicenceNone stated
Last update2 years ago31 Aug 2024
Add It to Your TradingView Chart
- 1Copy the scriptPress Copy script above. It reads the file straight from GitHub.
- 2Open the Pine EditorOpen a TradingView chart and choose Pine Editor at the bottom of the screen.
- 3Paste over the templateCreate a new indicator, select all of the template text and paste. Press Save and give it a name.
- 4Add it to the chartPress Add to chart, then adjust the settings with the gear icon next to its name.
Source Code
The code stays on GitHub. The author has not published this script under an open licence, so ForexR does not show its code. Copy script reads the file straight from GitHub into your clipboard, so you can still try it on your own chart. Ask the author before reusing the code anywhere else.
Overview
Sell Signal triggers a sell alert when four conditions coincide: a bullish candle with at least a five percent price increase, volume at least five times greater than the previous bar, a close price outside the Bollinger Bands, and a MACD line positioned above its signal line. Users can customize the Bollinger Bands length and standard deviation inputs, while MACD parameters are fixed.
- Bollinger Bands breakout detection
- Volume spike confirmation
- MACD line and signal cross filter
- Visual sell shape and label markers
Details
Settings
The inputs you can change from the gear icon on the chart. Defaults are the author's.
| Setting | Type | Default | Variable |
|---|---|---|---|
| Bollinger Bands Length | int | 20 | length |
| Bollinger Bands Standard Deviation | float | 2.0 | mult |
Third-party code. ForexR did not write, test or endorse this script, and the summary above was generated automatically from its code and README. Indicators describe the past, and a strategy's backtest can look better than live trading, especially when a script repaints. Check it in the Strategy Tester and on a demo account before you rely on it.
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